Financial safety

'Facial scans that can calculate risk': new tools that will transform your finances

The pace of technological change in the retail financial market is accelerating fast – and some weird science is coming soon to an investment portfolio near you.

Payments, banking, pensions and investments are being shaken up by the “geek squad”. Old, established brands such as Aviva now have spin-offs called things like Digital Garage, and last year the regulator received 39 requests for help from companies wanting to set up computerised financial advice systems, otherwise known as “robo-advisers”.

Mobile payments have been the first thing to change our financial patterns. Millions are hailing an Uber cab, or buying coffee from Starbucks with a tap on their mobile phone. YoyoWallet, the UK’s fastest growing mobile wallet, gives consumers a reward each time they use their phone app to pay for services.